Reddi Brake Supply Posts Increase in Revenues

Reddi Brake Supply Corp. of Ventura said its earnings dropped slightly during the third quarter that ended March 31 while its revenues more than doubled compared to the same three-month period a year earlier.

The automobile parts supplier reported third-quarter earnings of $161,266, down 4% from $167,405 the year before. It had sales of $12.25 million, up from $5.74 million a year earlier.

The quarterly results bring Reddi Brake’s year-to-date net income to $1.04 million compared to a loss of $2.97 million for the first nine months of fiscal 1994. The company said its revenues for the current nine-month period rose to $32.2 million from $13.6 million.

Bruce Douglass, chief executive officer, said the higher sales resulted from the opening of 46 new Reddi Brake outlets during the last nine months.